5 most affordable homes that recently sold in Hamilton

Some relatively affordable homes were bought in the last month in Hamilton, which may buoy hopes for people looking to get into the housing market in the city in 2023.

Home prices in Hamilton are somewhat coming back down to earth, although the city is one of the priciest in North America when housing costs are indexed to income levels. The most up-to-date Multiple Listing Service stats (MLS®) suggest the average house price in Hamilton is $800,434. That is a more than double-digit decline of 13.7 per cent from the start of 2022, although it also represents a 2.6-per-cent increase over the past month.

Meantime, real estate website and brokerage Zoocasa recently unveiled a list of Hamilton homes that changed hands for less than a half-million dollars.

Here’s a look at the five most affordable homes that recently sold in the city:

102-87 Duke St. (Durand neighbourhood)

This one-bedroom, one-bathroom condominium on under 700 square feet of space is on the main floor of a building close to downtown. It recently sold for $319,000. It features a newly renovated kitchen, in-suite laundry, and a terrace. It also rated high for walkability and transit, since it is near the Hamilton GO Centre on Hunter St. E.

702-101 Queen St S. (Durand)

Located in a mid-century building, this one-bedroom condo has an enclosed balcony with a sunroom within 700 square feet of space. It recently sold for $330,000. It is carpet-free, and has granite kitchen counters with an island.

The building’s rooftop deck also allows for barbecuing in the warmer months of the year. The location also scores above 80 per cent for walkability and transit access.

212 Gibson Ave. (Gibson)

This two-storey brick home has three bedrooms and one bathroom over 1,100-plus square feet — and it also features a fireplace . It sold for $338,000 after being listed for $299,905. It is described as having “charm, space and potential to be a lovely home, but needs work.”

262 Cope St. (Homeside)

This one-bedroom, one-bathroom bungalow (700 to 1,100 sq. ft.) comes advertised as a work-in-progress. With the front and back exterior already refinished, a new roof in place, it recently sold for $350,000. Other upgrades include an addition at the rear, a concrete porch and a bathroom. The home also has a full-sized unfinished basement.

“Just finish the rest and it’s a new house to flip, live in or rent,” the realtor said. Evidently, someone has accepted the challenge.

505-1950 Main St. W. (Ainslie Wood)

This condo in West Hamilton is a corner unit in a five-storey building that is adjacent to ample green space, while also being close to Hwy. 403 and McMaster University. It includes two bedrooms on just under 800 square feet, along with a renovated kitchen. It recently sold for $350,000, which was under the list price of $374,900.

Photos: City Brokerage, Keller Williams Complete Realty, Re/Max Escarpment Realty, Real Broker Ontario Ltd., Royal Lepage Real Estate Services.